HWL Ebsworth advised New Century Resources on its $51.1 million capital raising

23 April 2020

HWL Ebsworth advised New Century Resources Limited (ASX:NCZ) on its capital raising by way of a placement and fully underwritten accelerated non-renounceable pro-rata entitlement offer, announced on Tuesday, 21 April 2020.

New Century Resources is a base metal producer and operates the Century Mine in Queensland, an established top-10 zinc mine globally.

The company is raising $51.1 million. The equity will be used to for general working capital as New Century Resources continues to progress the final stage ramp up of operations to 12Mtpa at the Century Mine.

IGO Limited (ASX: IGO), a leading WA exploration and mining company, will invest up to A$27 million via a A$23.775 million placement, and a A$3.225 million sub-underwriting commitment under the entitlement offer, taking up to an 18.4% stake in New Century Resources. IGO has also agreed to enter a strategic relationship with New Century which will allow the collaborative assessment of opportunities within the existing New Century tenements or other mining assets identified by the company’s ongoing due diligence programs.

The placement will raise $23.775 million and the entitlement offer will raise $27.3 million. The Entitlement Offer is fully underwritten by Canaccord Genuity (Australia) Limited.

Corporate partner Dave Filov led the HWL Ebsworth team and advised on all aspects of the transaction, with support from solicitors Nick Harrison and Fiona Le.

Note to Editors:

HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by The Australian and the Australian Financial Review.

The firm comprises 1,481 staff including: 269 Partners, 843 other legal staff and 369 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Melbourne, Hobart, Norwest (North West Sydney), Perth and Sydney.

HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

For further information, please contact:

Russell Mailler, National Marketing Manager (03) 8644 3569 or rmailler@hwle.com.au

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